Computing consolidated earnings per share $($EPS$)$

Assume the following facts about a parent and its $75\%$ owned subsidiary company:

ParentSubsidiaryNet income$$180,000$$$45,000$Common shares outstanding$50,00022,000(16,500=75\%$ owned by parent$)$Convertible preferred stockDividends $=$ $$17,100$Convertible into $9,000$ shares of common stockConvertible bondsInterest expense after tax $=$ $$7,200$Convertible into $4,500$ shares of common stock

a$.$ Compute basic earnings per share

$Answer $1$

b$.$ Compute diluted earnings per share

$Answer $2$